Consumer prices rose 0.3% in January, more than expected, as the annual rate moved to 3.1%

Consumer prices rose 0.3% in January, more than expected, as the annual rate moved to 3.1%

Consumer prices rose 0.3% in January, more than expected, as the annual rate moved to 3.1% Inflation rose more than expected in January as stubbornly high shelter prices weighed on consumers, the Labor Department reported Tuesday. The consumer price index, a broad-based measure of the prices shoppers face for goods and services across the economy, increased 0.3% for the month, the Bureau of Labor Statistics reported. On a 12-month basis, that came out to 3.1%. Economists surveyed by Dow Jones …